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Showing 8 of 8 results by magickmayo
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Board Bitcoin Discussion
Re: Are Bitcoins taxable?
by
magickmayo
on 05/04/2018, 12:10:05 UTC
If the government wants to tax bitcoin, then I think they will put the tax on the people who verify the transactions(miners) and in turn the transaction fee will now include those taxes.
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Topic
Board Bitcoin Discussion
Re: Will bitcoin die as soon as the last block is mined?
by
magickmayo
on 27/02/2018, 15:34:58 UTC
Probably it wouldn't as fast as the last block is mined.
But the problem is the remaining transaction, we know miner and transaction is always related each other but if the transaction still keep ongoing i think its not a problem but maybe the fee will become much higher.
I thought bitcoin mining always ends up 10 minutes later? doesn't the difficulty of mining changes whenever it's too slow?
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Topic
Board Bitcoin Discussion
Re: Bitcoin affects students' performance in school
by
magickmayo
on 27/02/2018, 01:56:41 UTC
I guess teach them to discipline themselves. Sure earning through bitcoin is important but they need to balance themselves as they're still students. They shouldn't neglect the importance of education just because they found a way to earn money.
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Topic
Board Economics
Re: why do people agree to pay taxes?
by
magickmayo
on 16/02/2018, 14:36:37 UTC
It is through paying our taxes that the government gets their funds. The government doesn't just print money and use it when they run out of them. If people refused to pay they'll have a lack of funds and the government falls, then the country falls as well. Plus the government has laws against people who evade taxes, so you're gonna pay taxes whether you like it or not.

It's just too bad that some governments doesn't use all what we give them to our own benefit  Angry
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Board Bitcoin Discussion
Re: is it risky to turn all my money to bitcoins?
by
magickmayo
on 09/02/2018, 23:30:34 UTC
That's just like putting all your money in a gamble. bitcoin's price changes rapidly and you cannot predict when it rises and falls. and it's not just on bitcoin. Investing all your money on one stock is a very risky move. You should invest just a right amount (maybe a third or a fourth of your money), and see how it grows first. If the results are fine, you can then try to invest a bit more money, but you must never try to put all of them. Don't be too reckless to do that.
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Board Bitcoin Discussion
Re: Bitcoin to eliminate unemployment.
by
magickmayo
on 09/02/2018, 15:57:32 UTC
No. Bitcoin is not a job, it's a currency. what you're talking about are the jobs that pays in btc, like signature campaigns, translations, etc. Not just anyone could join those and it's not that you don't put any effort in your posts either. imagine if all those unemployed people tried to earn this way. it'd be a mess since they would try to join the campaign, only for a select few to be chosen. There would always be a case wherein there would be someone who still doesn't have a job.

I think they should develop some skills and find a job. With your idea, I think it just promotes laziness on those people.
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Topic
Board Bitcoin Discussion
Re: Is holding bitcoin Greedy?
by
magickmayo
on 08/02/2018, 15:06:19 UTC
It's not greedy. There's nothing wrong with holding bitcoin for that purpose, most people do that. Isn't the reason why people buy bitcoins is so that they'll have more money in return when its value increases? greediness has nothing to do with people not getting more than what they paid for, it's just it's part of the risk in investing in bitcoin.
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Topic
Board Bitcoin Discussion
Re: Why should people invest in bitcoin?
by
magickmayo
on 04/02/2018, 14:35:02 UTC
I guess it is because of the bitcoins volatility of bitcoins value. The chance of doubling your money in such a short time would be a good consideration, but then again there's the risk of losing your money too, but i think it is up to the investor on which one they'll end up.